California Revenue and Taxation Code

§ 24990.5

RTC § 24990.5 Effective Oct 1, 2025Div. 2 · Part 11 · Ch. 15 · Art. 4.5

Statute text

The provisions of Section 1212 of the Internal Revenue Code, relating to capital loss carrybacks and carryovers, are modified as follows:

(a)Section 1212(a)(1)(A) of the Internal Revenue Code, relating to capital loss carrybacks, shall not apply.

(b)Section 1212(a)(4) of the Internal Revenue Code, relating to special rules on carrybacks, shall not apply.

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Legislative history

Amended by Stats. 2025, Ch. 231, Sec. 118. (SB 711) Effective October 1, 2025. Applicable to taxable years beginning on or after January 1, 2015, as provided in Sec. 41 of Stats. 2015, Ch. 359.